The future of Germanys electricity regulation is still an open question. This paper deals with alternative liberalization models in a comparative manner. Four models are analyzed: (i) The single buyer model, of which elements can be found in the EU Directive concerning common rules for the internal market, and in several US-States, (ii) the wheeling model defined by the EU Directive, and is prescribed for the wholesale trade in the US through the Energy Policy Act of 1992, (iii) the pool model ? la England and Wales, and (iv) the common carrier model which is implemented in the Scandinavian Countries Norway, Sweden and Finland, and in California.